Wal-Mart Stores Inc. (WMT) Price Target Cut to $75.00
Wal-Mart Stores Inc. (NYSE:WMT) had its target price reduced by equities research analysts at Royal Bank Of Canada from $76.00 to $75.00 in a note issued to investors on Friday. The brokerage presently has an “underperform” rating on the retailer’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 8.13% from the company’s current price.
WMT has been the topic of a number of other reports. KeyCorp assumed coverage on Wal-Mart Stores in a report on Thursday, September 29th. They issued an “overweight” rating and a $90.00 target price on the stock. Credit Suisse Group AG assumed coverage on Wal-Mart Stores in a report on Friday, September 16th. They issued an “outperform” rating and a $80.00 target price on the stock. Zacks Investment Research cut Wal-Mart Stores from a “buy” rating to a “hold” rating in a report on Wednesday, August 24th. Guggenheim assumed coverage on Wal-Mart Stores in a report on Friday, September 30th. They issued a “buy” rating and a $82.00 target price on the stock. Finally, Citigroup Inc. reaffirmed a “neutral” rating on shares of Wal-Mart Stores in a report on Monday. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Wal-Mart Stores presently has a consensus rating of “Hold” and an average target price of $75.53.
Wal-Mart Stores (NYSE:WMT) opened at 69.36 on Friday. The stock has a market capitalization of $214.55 billion, a PE ratio of 14.93 and a beta of 0.20. Wal-Mart Stores has a 12-month low of $56.30 and a 12-month high of $75.19. The stock has a 50 day moving average price of $71.93 and a 200-day moving average price of $70.94.
Wal-Mart Stores (NYSE:WMT) last released its quarterly earnings results on Thursday, August 18th. The retailer reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.05. The firm had revenue of $120.90 billion for the quarter, compared to the consensus estimate of $119.33 billion. Wal-Mart Stores had a return on equity of 17.93% and a net margin of 3.04%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the business posted $1.08 EPS. On average, equities analysts anticipate that Wal-Mart Stores will post $4.34 earnings per share for the current fiscal year.
In related news, major shareholder Jim C. Walton sold 3,502,398 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $73.02, for a total value of $255,745,101.96. Following the completion of the transaction, the insider now owns 10,507,127 shares of the company’s stock, valued at $767,230,413.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven P. Whaley sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $71.46, for a total transaction of $78,606.00. Following the completion of the transaction, the insider now directly owns 29,464 shares of the company’s stock, valued at approximately $2,105,497.44. The disclosure for this sale can be found here. 51.55% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of WMT. Vigilant Capital Management LLC increased its position in shares of Wal-Mart Stores by 1,270.0% in the second quarter. Vigilant Capital Management LLC now owns 1,370 shares of the retailer’s stock worth $100,000 after buying an additional 1,270 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in shares of Wal-Mart Stores during the second quarter worth about $100,000. Americafirst Capital Management LLC acquired a new position in shares of Wal-Mart Stores during the second quarter worth about $106,000. Seven Eight Capital LLC acquired a new position in shares of Wal-Mart Stores during the second quarter worth about $111,000. Finally, Piershale Financial Group Inc. increased its position in shares of Wal-Mart Stores by 0.6% in the second quarter. Piershale Financial Group Inc. now owns 1,607 shares of the retailer’s stock worth $117,000 after buying an additional 10 shares during the last quarter. 29.55% of the stock is owned by institutional investors.
About Wal-Mart Stores
Wal-Mart Stores, Inc is engaged in the operation of retail, wholesale and other units in various formats around the world. The Company offers an assortment of merchandise and services at everyday low prices (EDLP). The Company operates through three segments: Walmart U.S., Walmart International and Sam’s Club.
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